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FLORIDA STATUTES — TITLE XV (HOMESTEAD AND EXEMPTIONS)
CHAPTER 222: METHOD OF SETTING APART HOMESTEAD AND EXEMPTIONS
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SECTION 222.14: Exemption of cash surrender value of life insurance policies 
and annuity contracts from legal process.

"The cash surrender values of life insurance policies issued upon the lives of 
citizens or residents of the state and the proceeds of annuity contracts issued 
to citizens or residents of the state, upon whatever form, shall not in any case 
be liable to attachment, garnishment or legal process in favor of any creditor 
of the person whose life is so insured or of any creditor of the person who is 
the beneficiary of such annuity contract, unless the insurance policy or annuity 
contract was effected for the benefit of such creditor."

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SECTION 222.13: Proceeds of life insurance policies.

"(1) Whenever any person residing in this state shall die leaving insurance on 
his or her life, the said insurance shall inure exclusively to the benefit of 
the person for whose use and benefit such insurance is designated in the policy, 
and the proceeds thereof shall be exempt from the claims of creditors of the 
insured unless the insurance policy or a valid assignment thereof provides 
otherwise."

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LEGAL APPLICATION TO PPLI & OFFSHORE POLICIES:
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1. State-Level Exemption Primacy: Under U.S. debtor-creditor law, an offshore 
   (e.g., Bermuda or Cayman) PPLI policy held by a U.S. resident is NOT 
   automatically immune from U.S. court jurisdiction or creditor claims simply 
   because the policy carrier is foreign. 

2. Resident State Law Controls: U.S. bankruptcy courts and state courts apply 
   the debtor's state of domicile exemption statutes to determine whether the 
   cash surrender value of a PPLI policy is protected from creditor process.

3. Florida Model (§ 222.14): Florida provides unlimited statutory protection for 
   the cash surrender value of life insurance policies and annuity proceeds 
   for Florida residents against claims of creditors (absent fraudulent transfer). 
   States without strong insurance exemption statutes (or with low dollar caps) 
   do NOT protect PPLI policy cash surrender value, regardless of whether the 
   policy is issued by a domestic or foreign carrier.

4. Trust-Owned & Third-Party Insured Scope Nuance: § 222.14 applies directly 
   to policies owned by and insuring the debtor's own life. If a PPLI policy is 
   owned by an irrevocable trust or insures a third party (e.g. an elderly 
   relative, as in Webber v. Commissioner where policies insured two elderly 
   relatives), statutory protection does not automatically apply under § 222.14 
   alone. Trust-owned PPLI structures require specialized spendthrift provisions 
   and discretionary distribution mechanics to protect policy values from 
   creditor attachment.
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